Neonatal Intensive Care Market
The neonatal
Intensive care market is supposed to
enlist a CAGR ~4.99% during the gauge time of 2022-2030 with an expected market
worth of 12920.12 million out of 2030.
The global neonatal
intensive care market is mainly driven by the growing awareness about infant
mortality and the growing efforts from governments to bridge the gap between
supply and demand in order to reduce infant mortality. Major players in the
global neonatal intensive care market are profiled in the report in order to
provide readers with a detailed view of the market, including the successful
strategies used by leading players in the market. Major drivers and restraints
of the neonatal intensive care market are also described in the report in great
detail, including information on the macroeconomic factors working in the
background.
The neonatal
intensive care market is mainly driven by the increasing incidence of infant
mortality. Due to poverty and unavailability of advanced medical care, many
developing regions suffer from high rates of infant mortality, leading to
widespread concern. This has led to the rapid growth of the healthcare sector
in regions such as Asia Pacific, where nations with sufficient economic power
to make proactive decisions in order to reduce infant mortality. This has led
to a growing volume of construction of healthcare agencies such as hospitals
and neonatal care units. The growing population in regions such as India, China,
and the rest of Southeast Asia is also a major driver for the neonatal
intensive care market in the region.
Major Key
Players:
Some of the Neonatal Intensive Care Market Players are B. Braun Melsungen AG, DRE
Medical, Digicare Biomedical Technology Inc., Henry Schein, Jorgensen Labs,
Medtronic, Midmark Corporation, Patterson Companies, Inc., Smiths Group plc,
and Vetland Medical Sales & Services.
Segment Analysis
The neonatal
intensive care market’s segmental analysis provides a detailed understanding of
the market that helps in identification of new growth windows and assists in
preparing proper strategies to trigger the market growth. The neonatal
intensive care market study has been segmented into product and end user.
On the basis of
product, the market has been segmented into phototherapy equipment, catheters,
convertible warmer and incubators, incubators, respiratory devices, infant
warmers, neonatal monitoring devices, and others. Electric infant warmers and
non-electric infant warmers are classified under the infant warmers segment.
The neonatal monitoring devices segment has been further narrowed down to blood
pressure monitor, pulse oximeters, capnographs, cardiopulmonary monitor, and
others.
On the basis of
end-use, the neonatal monitoring devices market has been segmented into
childcare and clinics, hospital and others.
Regional Analysis
The market in the Americas is
expected to dominate the global Neonatal Intensive Care market during the
forecast period. The rising prevalence of congenital disorders in new-born,
increasing neonatal population and government support are driving the growth of
the market in the Americas. According to a data published by the Centers for
Disease Control and Prevention (CDC) in November 2018, congenital heart defects
(CHDs) affect approximately 1% or about 40,000 births per year in the US.
Europe showed a considerable
amount of growth in the global neonatal intensive care market. The market
growth in this region is because of the presence of a well-established
healthcare system and increase in insurance coverage for pets. Also,
technological advancements in the industry and government support in terms of
National Health Service and health insurance are expected to drive the market
growth.
Asia-Pacific is estimated to be
the fastest growing region in the market due to increased pet adoptions and
rise in the number of animal welfare programs.
On the other hand, the Middle
East & Africa has the least share of the market due to the low disposable
income. According to the American Society of Hematology (ASH), it led a
campaign to fight sickle cell disease in Africa in June 2018. It also urged the
governments, particularly in sub-Saharan Africa, to invest in new-born
intensive care units for the betterment of the neonates.
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